Condotel: Is that word in the dictionary?
The hybrid property craze known as the condominium hotel has spawned the word condotel, which Webster's Dictionary has yet to recognize. Yet did you know that this type of investment has actually existed in various forms since the early 70's in Utah, Colorado, and Arizona. Regardless of how long condotels have existed, their popularity is certainly surging. According to Sunburt Marketing Group, ..."there are more than 300 condotel projects slated for 2006." Financing benefits and quick capital return are just some of the enticing incentives for developers of these hotel properties.
